Re: anyone hear about this effort to move back to a gold standard in Congress?
When the national debt becomes unbearable they will be forced to do it unless other options exist. So- what other options are there? taxation either across the income spectrum or only the wealthy is very problematic as the nu bers will be huge. Cutting expenses has not worked and neither has restricting the military budget. Reducing Social security payments will be political suicide as will reudcing/ eliminating Medicare.At the present time as long as interest payments on debt are made everything will go on as before but with massive increases of debt especially if the Dems get in and more free stuff that will likely become a burden as well. When the SHTF it will be relatively easy to go to a gold standard and let the explosive increase in gold prices off-set the public debt. Easy money with no taxation or work effort and no pain to anyone. Almost all will like it because other countries are also in debt to their ears! Russia, China, Italy ,Germany etc all have significant gold stores etc. This is a good solution unless the « monetary magicians at the feds or treasury have an easier way.